Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsTaxable wealth of a person who is not Included In a family. [ 21, 10 of 1962,3
| 8 †. Such part of the net wealth for any year of assessment of a person (other than a person in the capacity of a trustee of a trust or a corporation or an unincorporate body of persons, who or which is a charitable institution within the meaning of the Income Tax Ordinance) who is not included in a family as is in excess of two hundred thousand rupees in value shall be his taxable wealth for that year of assessment, and he shall be liable to make the contribution in respect of such taxable wealth to the Personal Tax. * In respect on each year of assessment commencing on or after April 1, 1961, section 7 shall have effect as if for all the words from " Such part" to " rupees in value", there were substituted the words " Where the net wealth of the head of that family for that year of assessment amounts to or exceeds two hundred thousand rupees, such net wealth ".- See section 17 (a) of the Finance Act, No. 65 of 1961. † In respect of each year of assessment commencing on or after April 1, 1961, section 8 shall have effect as if for all the words from " Such part" to " rupees in value", there were substituted the words "Where the net wealth for any year of assessment of a person who is not included in a family amounts to or exceeds two hundred thousand rupees, such net wealth"-See section 17 (b) of the Finance Act, No. 65 of 1961. |